Aave has approved new lending rules to protect against a range of risks that could potentially arise as a result of a sharp increase in traders’ demand for ETH loans. During the period from August 30 to September 2, representatives of the Aave community voted overwhelmingly to stop lending, abandoning the free market principle in view of the upcoming transition of ETH from the PoW mechanism to PoS in mid-September.
It is also possible to assume a further increase in credit rates due to the desire of users to borrow in ETH in order to receive an airdrop in the ETHPOW of the Ethereum fork. If the lending trend is forecast to continue, the rate may rise up to 100%.
Meanwhile, the Ethereum community has a kind of split because the miners are not happy with the plan to switch to the PoS mechanism and propose splitting the network into two PoS and PoW chains. In the case of PoW, users will receive a free ETHPOW token distributed to ETH owners for free.